Amidst strictly enforced curfew by Bombay Police during December 1992 following Hindu-Muslim riots, Suryakant - one of four siblings from Malad's Malvani slums, heads home. While doing so, he reflects on his childhood; his sisters: Devi and Rajni; brother Chandrakant; his dad, Shashikant, as well his mother; his expertise with the Carrom-board; run-ins with extortionist-goon, Jaleel Khan; his friendship with Zaid Khan; his crush on Noorie as well as his plans to find employment in Dubai; why he could not attend Devi's marriage, as well as the tragedy that awaits him.

'Blackmail' is a story about a cop (Sunil Shetty) and a criminal (Ajay Devgan). The criminal wants to get even with the cop for having put him behind bars and he does so by kidnapping the cop's kid when he gets out of the jail.